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Storm surge risk across U.S. coastline on the rise: RMS

New analysis by catastrophe risk modelling and management firm RMS, reveals that rising sea levels signal a potential rise in economic and insured losses from hurricane-driven storm surge across the U.S. coastline. The new study examines six U.S. coastline cities’ current exposure to storm surge activity and how this is expected read the full article →

Number of U.S. homes susceptible to storm surge rises: CoreLogic

The amount of homes at risk of storm surge along the Gulf and Atlantic coasts has increased to 6.6 million from 2014, while the total reconstruction cost values (RCV) of the properties has remained at an estimated $1.5 trillion, according to CoreLogic. A new report by global property information, analytics and read the full article →

Research suggests it doesn’t take a storm to create a surge in sea levels

Research into the “unprecedented” and “very unusual” significant surge in sea levels that occurred on the East Coast of the U.S. during 2009 and 2010, claims to have found the cause of the storm surge-like phenomena. Typically, when a hurricane or severe winter storm strikes the resulting impact on ocean levels read the full article →

Karen Clark & Co. launches U.S. storm surge risk model

A new, comprehensive, high-resolution storm surge model for the U.S. has been released by catastrophe risk modelling and analysis firm Karen Clark & Company (KCC), which it believes will help ILS investors to get more comfortable with this risk. According to KCC its new model offers some significant advantages compared to read the full article →

NOAA to provide storm surge watch and warnings for hurricanes

The U.S. NOAA’s National Hurricane Center (NHC) has announced plans to launch a storm surge watch and warnings graphic, the next phase following their Potential Storm Surge Flooding Map that launched at the start of the 2014 Atlantic Hurricane Season. As we reported previously at Artemis the NHC released the freely, read the full article →

RMS works to reduce uncertainty in China typhoon risk model

Risk modelling, analytics and catastrophe risk management firm RMS has been working alongside China Property and Casualty Reinsurance Company (China Re P&C) in a project seeking to reduce uncertainty in its China typhoon risk model. A technical collaboration between RMS and China Re P&C, one of the leading non-life reinsurance companies read the full article →

U.S. storm surge risk may be greater than reinsurers (and ILS) think

A new CoreLogic storm surge study and recent findings from an analysis performed by Reuters share the same perception, that storm surge from coastal flooding is likely more prevalent than the reinsurance and insurance-linked securities markets think. According to the CoreLogic 2014 storm surge analysis roughly 6.5 million homes along the read the full article →

NOAA hurricane alerts to include storm surge forecasts

This year the hurricane alerts and forecasts sent out by the U.S. NOAA's National Hurricane Center (NHC) will for the first time include storm surge maps to show the potential for hurricane induced surge to cause flooding on the U.S. coastline. The National Hurricane Center has announced the introduction of its read the full article →

Storm surge height known 18 hours before landfall, say researchers

An interesting piece of research due to be published soon aims to prove that storm surge height is not directly correlated to hurricane, or storm, wind speeds at the time of landfall, rather it is the intensity and size of the storm 18 hours prior to landfall that matters. Researchers Hal read the full article →

New York MTA seeking support for potential future cat bonds

First Mutual Transportation Assurance Co. (FMTAC), the New York State-licensed captive insurer subsidiary of the New York Metropolitan Transportation Authority (MTA), is seeking support in connection with potential future catastrophe bond transactions it may sponsor. The MTA, responsible for much of the transport systems in New York State, and its captive read the full article →